Uploaded January 2020 | Updated September 2026, 26 minutes ago
As the name suggests, the resource curse refers to peculiar situations involving resource-rich nations such as many African countries that despite the abundance of this form of wealth, find themselves tackling major economic issues, from sub-par economic growth to poverty and human rights problems.
From the definition/meaning to examples such as the Dutch Disease, this video explains what the resource curse (otherwise known as paradox of plenty) is all about in a way that leaves little room for interpretation.
One important issue needs to be explained right from the beginning: don't assume that just because historical examples such as the Dutch Disease as well as modern-day ones such as the situation over in Venezuela abound, it is obvious to the point of quasi-axiomatic that the resource curse is a "thing"... let's just say the jury is still out on that.
While some economists swear by the resource curse aka paradox of plenty, others tend to be on the skeptical side when addressing the current research situation and state that the link between resource wealth and economic problems is weak at best. As explained at the end of the video... we're still working on it :)
As the name suggests, the resource curse refers to peculiar situations involving resource-rich nations such as many African countries that despite the abundance of this form of wealth, find themselves tackling major economic issues, from sub-par economic growth to poverty and human rights problems.
From the definition/meaning to examples such as the Dutch Disease, this video explains what the resource curse (otherwise known as paradox of plenty) is all about in a way that leaves little room for interpretation.
One important issue needs to be explained right from the beginning: don't assume that just because historical examples such as the Dutch Disease as well as modern-day ones such as the situation over in Venezuela abound, it is obvious to the point of quasi-axiomatic that the resource curse is a "thing"... let's just say the jury is still out on that.
While some economists swear by the resource curse aka paradox of plenty, others tend to be on the skeptical side when addressing the current research situation and state that the link between resource wealth and economic problems is weak at best. As explained at the end of the video... we're still working on it :)
